Franchising is booming in the UK, helping many individuals to realise their dreams of running their own business. Latest figures reveal 88% of franchise businesses are profitable with an average turnover of 291,000.

To help new entrepreneurs get in on the act, Domino’s Pizza offers business tips from already successful franchisees, some of them millionaires.

Research

1. “I did a lot of research on quite a few different franchisors and their references before signing up with Domino’s, to make sure I knew exactly what I was getting into. It’s really important to make sure you will get the support you deserve once you have made your investment. A good franchisor won’t have anything to hide.”

Antony Tagliamonti, multi-unit franchisee, Essex

2. “Make mistakes in someone else’s business, not your own! If you don’t know the market you are about to enter it can really help to get some work experience in the industry or open a store with someone else before doing your own. Getting my hands dirty early on meant that when I became the boss I knew exactly what the issues were and how best to react.”

David Rose, franchisee in Plymouth, who runs his business with other family members

3. “You won’t make money if you don’t like the product. In fact you won’t even get an interview if you haven’t experienced it. It is imperative that you really understand and believe in both your product and market place. I got under the skin of my industry early on when I held the position of manager for seven years, and know my business inside out. This has reduced my chances of making mistakes and gone a long way to earning respect from staff and colleagues.”

Lisa Taylor, franchisee, Kilmarnock

4. “Don’t try and reinvent the wheel – use a franchisor’s own processes and systems. You are investing in a model which, if established, will have proven its effectiveness time and again and following the guidelines has significantly increased my level of success.”

Nigel Hall, multi-unit franchisee, Cardiff

Networking and relationship building

5. “Know exactly what you’re investing your life and money into. Ask the franchisor to give you contact numbers for some of their franchisees and speak to as many as possible to make an informed decision. I regularly speak to prospective candidates and am happy to give them the facts about running a business. If they won’t give you references then take them off your list as there must be something wrong.”

Niraj Madlani, franchisee, Eltham

6. “Build good relationships with not only with your franchisor, but also with your bank, employees, your community and any local papers or radio stations. I’ve found this makes any difficult times much easier. I’ve worked hard to earn the trust of my community and my customers are extremely loyal as a result.”

Shayban Al Ibrahim, multi-unit franchisee, Wales

7. “Before you take on your business it is really important to take a holiday and recharge your batteries. The first few months will be some of the hardest and you need to be physically and mentally ready for the challenge ahead. Once you are in the thick of it make sure you separate work from home.”

Jim Dove, joint venture partner of four Domino’s Pizza stores in Birmingham